Gold settled flat after US dollar gains after GDP and jobless claims data.
Gold yesterday settled up by 0.01% at 59901 as the dollar rose as weaker-than-expected U.S. economic growth in the first quarter is not likely to deter the Federal Reserve from raising interest rates next week. The advance estimate of first-quarter gross domestic product (GDP) showed a 1.1% annualized rate during the period. The economy grew at a 2.6% pace in the fourth quarter. Core personal consumption expenditure prices rose 4.9% in the first three months of the year, higher than the consensus figure of 4.7% and up from the fourth quarter figure.
